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Canada Investment Fund for Africa launched

Fasken
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Confidential Client

On April 25, 2005, The Canada Investment Fund for Africa (CIFA), an innovative public-private initiative to provide risk capital for investments in Africa, was officially launched. CIFA answers the call for greater investment issued by African leaders in the New Partnership for Africa's Development and endorsed by the G8 in their Africa Action Plan [GC]. This 10-year fund aims to channel at least $200 million in new investments by leveraging a $100 million contribution from the Canada Fund for Africa that will be matched on a 1:1 basis by third-party investors. Its objective is to harness economic growth to benefit Africans through job creation, increased incomes, expanded infrastructure, and better access to technologies. Steve Erlichman and Tracy Hooey of Fasken Martineau advised the Government of Canada in the creation of this fund.

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